The FTSE 100 index has climbed 7 points to 4,151 this morning following yesterday's rally in New Yor...
The FTSE 100 index has climbed 7 points to 4,151 this morning following yesterday's rally in New York and renewed rises in oil prices as analysts point to tight reserves amid continuing geopolitical activities.
An overnight attempt to shoot down an Israeli commercial jet in Africa as well as a reported car bombing of a hotel have hightened fears of war with Iraq.
BP is up 6p to 423p and Shell is up 5p to 418.5p.
It has also been a good day for media stocks after overnight news that the US economy is continuing to pick up steam, something that would boost cyclicals such as media more than defensives such as tobacco.
Reed Elsevier is up 13p to 570p and Reuters is up 4.25p to 221.5p.
Dixons is performing less well, having already lost 13.25p to 175.75p after changes to tax rules mean it will have to pay an additional £20m tax bill on sales of aftercare warranties.
And continued questions over exactly when Brambles became aware of problems with its Chep pallets business in Europe have prompted another fall in its share price today, down 4.25p to 151.25p.
Mid-cap stocks are performing well, driving the FTSE 250 index up 24 points to 4,514.
MyTravel finally got the bank loans it needed for its accountants to sign off on results yesterday, and shares are up 2.75p to 32.75p.
Shares in the London Stock Exchange are down 5.25p to 326p after both it and OM, the operator of the Stockholm exchange denied reports the LSE was about to buy OM's business.
Two years ago the story was that OM wanted to buy the LSE after its failed deal to merge with Frankfurt.
Last night the Dow Jones Industrial Average index came within touching distance of the 9,000 points level, gaining 255.26 points to 8,931.68 on the day before the Thanksgiving holiday when markets will be closed.
Stronger than expected employment and manufacturing data pushed indices up sharply in early trading to levels that held out through the day.
The S&P climbed 25.56 points to 938.87, while Nasdaq's Composite gained 43.51 to 1,487.94.
Tokyo's Nikkei 225 index jumped 300.90 points to close at 9,176.78.
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